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The American economy grew by less than expected in the first quarter,
prompting concerns that tax increases and spending cuts could smother the
country’s recovery.

GDP for the United States grew by 2.5 per cent in the first three months of
this year, which was far stronger than most Western countries achieved.
Britain, by comparison, grew at a rate of just 0.3 per cent.

However, the US growth rate was lower than the 3 per cent that economists had
predicted and there are fears that the economy may be sliding back towards
mediocre growth.